Press Release: Mapletree Logistics Trust Granted Option to Purchase Logistics Property in Singapore

For Immediate Release

Mapletree Logistics Trust Granted Option to Purchase

Logistics Property in Singapore

Singapore, 9 July 2021 - Mapletree Logistics Trust Management Ltd., as manager (the "Manager") of Mapletree Logistics Trust ("MLT"), is pleased to announce that pursuant to an Option to Purchase agreement ("OTP"), HSBC Institutional Trust Services (Singapore) Limited (in its capacity as trustee of MLT) has been granted an option to acquire 9 Changi South Street 2 in Singapore (the "Property") from RSH Holdings Pte Ltd for a purchase price of S$24.5 million (the "Proposed Acquisition"). The Proposed Acquisition is subject to, among others, approval from JTC Corporation and exercise of the OTP by MLT.

Rationale for the Proposed Acquisition

Ms Ng Kiat, Chief Executive Officer of the Manager said, "With a limited supply of logistics properties in the eastern part of Singapore, 9 Changi South Street 2 is an attractive property given its prime location and a relatively long remaining land tenure of over 33 years. The property is also adjacent to our existing property at 15 Changi South Street 2, thus presenting the opportunity for potential economies of scale."

The Property is easily accessible by the ECP expressway and in close proximity to Changi Airport (~7km) and the Expo MRT (~850m). Its favourable location will attract demand from industries involved in high-value and time-sensitive goods such as electronics and pharmaceutical, as well as e-commerce firms and third-party logistics players ("3PLs") looking to expand in the Changi South/East region.

The Property is well-poised to benefit from Singapore's position as a key logistics hub due to the country's excellent infrastructure and connectivity. Ranked as Asia's top logistics hub for 10 years in

Mapletree Logistics Trust Management Ltd.

10 Pasir Panjang Road, #13-01 Mapletree Business City, Singapore 117438 tel [phone] fax [phone]

Co. Reg. No. 200500947N

a row, Singapore has attracted the top 25 global logistics firms to set up operations locally1. The future air cargo facility at Changi Airport Terminal 5 will see an increase in annual handling capacity from 3 million tonnes to 5.4 million tonnes and the adoption of enhanced technologies, giving Singapore a competitive advantage in handling pharmaceutical, perishable and e-commerce cargo.

The Property will be sold with vacant possession and the Manager is in talks with an international 3PL to lease the Property as the anchor tenant.

The Property has been valued at $24.6 million by Savills as at 25 June 2021 based on the Income Capitalisation, Discounted Cash Flow Analysis and Direct Comparison methods.

Funding and Financial Effects of the Proposed Acquisition

If the OTP is exercised, MLT is expected to incur an estimated total transaction cost of approximately S$2.7 million which includes the initial land premium and the acquisition fee payable to the Manager of approximately S$0.2 million, being 1% of the purchase consideration of S$24.5 million. The purchase consideration will be satisfied in cash. MLT has paid an option fee amounting to 1% of purchase consideration, and will pay a further 4% upon exercise of the OTP, with the balance 95% being payable upon completion of the Proposed Acquisition. The Proposed Acquisition will be funded by debt and is expected to be completed by 3Q FY21/22, subject to approval from JTC Corporation. Upon completion, MLT's aggregate leverage ratio will be approximately 38.5%2, while MLT's total portfolio will comprise 164 properties with total assets under management of S$10.8 billion.

The Proposed Acquisition is expected to generate a stabilised property income yield of approximately 6.2% based on the purchase price and initial land premium, and it is also expected to be accretive to MLT's distribution.

1. The Singapore Economic Development Board, https://www.edb.gov.sg/en/our-industries/logistics-and-supply-chain- management.html
2. Based on MLT's financials as at 31 March 2021.

Mapletree Logistics Trust Management Ltd.

2

10 Pasir Panjang Road, #13-01 Mapletree Business City, Singapore 117438 tel [phone] fax [phone]

Co. Reg. No. 200500947N

About the Property

9 Changi South Street 2 is a part 3-storey, part 4-storey temperature controlled warehouse building with ancillary offices. It has a gross floor area of approximately 11,506 square metres and is sited on leasehold land with a balance tenure of approximately 33.3 years comprising the initial land tenure expiring in October 2024 and a further 30-year term expiring in October 2054.

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About Mapletree Logistics Trust (MLT)

MLT, the first Asia-focused logistics REIT in Singapore, was listed on the SGX-ST main board on 28 July 2005. MLT's principal strategy is to invest in a diversified portfolio of income-producing logistics real estate and real estate-related assets. As at 31 March 2021, it has a portfolio of 163 logistics assets in Singapore, Hong Kong SAR, Japan, Australia, China, Malaysia, South Korea, Vietnam and India with assets under management of S$10.8 billion. MLT is managed by Mapletree Logistics Trust Management Ltd., a wholly-owned subsidiary of Mapletree Investments Pte Ltd. For more information, please visit www.mapletreelogisticstrust.com.

For enquiries, please contact:

Ms Lum Yuen May

Director, Investor Relations

Tel: [phone]

Email:[e-mail]

Important Notice

This Announcement is for information only and does not constitute an invitation or offer to acquire, purchase or subscribe for units in MLT ("Units"). The value of Units and the income derived from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders of MLT may only deal in their Units through trading on the Singapore Exchange Securities Trading Limited ("SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. The past performance of MLT is not necessarily indicative of its future performance. This release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representatives examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events. The information in this Announcement must not be published outside the Republic of Singapore and in particular, but without limitation, must not be published in any United States edition of any publication.

Mapletree Logistics Trust Management Ltd.

3

10 Pasir Panjang Road, #13-01 Mapletree Business City, Singapore 117438 tel [phone] fax [phone]

Co. Reg. No. 200500947N